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RBI’s new rules on interchange fee, 24/7 bulk clearing facility functional

National Automated Clearing House (NACH) has been made available on all days of the week, effective August 1, 2021.

NACH, a bulk payment system operated by the National Payments Corporation of India (NPCI) facilitates one-to-many credit transfers such as payment of dividend, interest, salary and pension.

It also facilitates collection of payments pertaining to electricity, gas, telephone, water, periodic instalments towards loans, investments in mutual funds and insurance premium.

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Simplified patent, copyright registration helping India become an innovation hub: Piyush Goyal

The number of patents granted has gone up from 6,326 in 2015-16 to 28,391 in 2020-21, while Trade Marks registration has shot up from 65,045 in 2015-16 to 2,55,993 in 2020-21. Similarly, while 4,505 Copyrights were granted in 2015-16, a total of 16,402 were granted last fiscal, said the ministry.

Industry Minister Piyush Goyal reiterated the Government’s commitment to bolster the ecosystem of patents, design, trademarks, GI (Geographical Indication) systems; to encourage innovation, research and development in the country and bring newer inventions and knowledge from India’s heritage systems to a global platform.

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COAI warns mobile users against fraud messages, calls relating to KYC

COAI cautioned that mischievous elements are sending fake messages and calling people, threatening to block SIM cards. If the false directives are followed, it can potentially lead to privacy breach or financial or data loss, Cellular Operators’ Association of India (COAI) said.

“The messages and calls falsely claim that the customer’s KYC documents are incomplete, pending or expired. Receivers of such messages are falsely advised to call a particular number or download an app on their phones,” S P Kochhar, Director General of COAI said in a statement.

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Space Activities Bill under consideration to promote private players in sector

The Indian National Space Promotion and Authorization Centre (IN-SPACe) was created as an independent nodal agency under the Department of Space with the mandate of promoting, handholding, licensing, authorization and monitoring of private space activities in India. Access to Department of Space (DOS) facilities and expertise is extended to private entities to support their space activities.

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Expand number of types of cybercrimes from 9 to 23, Russia proposes to UN

The draft convention, presented by Gorodov in Vienna, “introduces new elements of crimes committed using information and communication”.

“The draft reflects 23 corpus delicti, including unauthorized access to personal data, illegal distribution of counterfeit medicines and medical devices, terrorism, extremism, rehabilitation of Nazism, illegal trafficking of drugs, weapons, involvement of minors in illegal activities and much more — all the most relevant in the world of cybercrime,” Deputy Prosecutor General Petr Gorodov said.

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AIR Worldwide enhances extreme event models for Japan, Releases updated earthquake and typhoon models

“In 2018 and 2019, four powerful typhoons struck Japan, incurring total insured losses of approximately USD 30 billion from wind and flood damage,” said Dr. Boyko Dodov, vice president of research, AIR Worldwide.

“As is the case after any major storm or severe storm season, we have been analyzing and reanalyzing a plethora of meteorological data, market exposure and company claims data sets from these and previous historical storms,” he said.   

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